Goldman Sees Europe Power-Supply Risks as Demand Growth Returns
Electricity pylons and power lines near a power plant in Paluel, France.
Photographer: Nathan Laine/BloombergEurope is finally set to see power demand rise after 15 years of decline, bringing new risks to the region’s energy security, said Goldman Sachs Group Inc.
The bank predicted in a report that the region’s electricity demand will grow 1.5% to 2% annually from 2026. That trajectory would push reserve margins — a measure of the buffer in the system when power demand peaks — close to zero by 2029. The danger zone for blackouts is a reserve margin below 10% to 15%, Goldman said.